CHINA: Tingyi eyes bottled water crown
By just-drinks.com editorial team | 4 December 2006
Chinese food giant Tingyi Holdings is looking to more than double its sales of bottled water in the next three years.
The company, which holds 12.4% of China's bottled water market is eyeing a 30% share by 2009, according to Hong Kong-based newspaper The Standard.
"We aim to become the leader in bottled water next year and boost our market share to 30% between 2008 and 2009," CFO Frank Lin told the newspaper.
Chinese drinks group Wahaha, owned by France's Groupe Danone, leads the bottled water segment.
Tingyi, which operates in a number of food segments, saw its beverage sales account for over half of revenues during the first nine months of the year. The company already leads China's ready-to-drink tea segment with a market share of 50%.
Sectors: Soft drinks, Water
Companies: Wahaha, Groupe Danone
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